News

CEO speaks with Time Magazine on Nigeria/U.K. economic partnership

Working in partnership with the U.K. for Nigeria’s sustainable future

A global industrial group operating in various sectors, Century Group (CG) is a solutions-provider for modern businesses. With a mission to identify and solve problems, enable people and create value, CG operations are focused on job creation with commercial effectiveness in all the countries it has presence. CG has more than 2,000 employees, and contributes more than 200,000 barrels per day of oil and/or its equivalent to the Nigerian oil and gas sector. It manages assets worth over $4 billion. Ken Etete, group CEO, takes up this incredible Nigerian success story.

“We started out supporting the human resources of the oil and gas industry, which is highly technology driven. In the last six or seven years, however, we have grown into a major service provider, offering end-to-end operations and maintenance solutions to oilfield facilities (FPSOs, Production Platforms, MOPUs, FSO’s, etc.). Our service-solutions are continuously optimized for operational efficiencies. We are proud to be the leading, wholly indigenous African entity providing such services. We co-own and manage over 20 offshore support vessels (OSVs) through our marine division.

To consolidate our fast-growing business, we are developing Kidney Island in partnership with Shell Petroleum Development Company of Nigeria (SPDC), to become a strategic center for oilfield logistics and supply chain activities in Nigeria and the Gulf of Guinea. We are grateful to Shell and other big players in the industry for recognizing the capacity and skills of local companies, especially the ones led by local entrepreneurs.”

CG was one of the first wholly indigenous companies to market its competencies and readiness-to-operate when the government pushed through its local content policy in 1999. “We were ready and have benefited from our support to local content development,” Etete says. “Cost, technology and efficiency are the key factors in the oil industry and if you don’t possess them, the oil man doesn’t wait! We take advantage of the experience and knowledge that we lack by forming strong partnerships. We are open to strategic partnerships that can add value for our stakeholders.”

The main challenge the sector faces is financing, Etete says. “Nigeria’s financial sector needs to be much stronger to support businesses,” he says. “There is also a major skills gap, considering the opportunities that are available.”

With this in mind, CG puts its money where its mouth is.

“We go to schools and help lots of young people. We train and empower people, and also create job opportunities. We want to create a million indirect jobs for Nigeria in the coming decade,” Etete says.

“We are proud of our growth and the fact we’ve survived with our own resources. We are also proud of the new U.K. partnerships we are building. It is a good sign, underscoring a very good future.”

 

Century Group

Plot 21 Prince Adelowo Adedeji Street, Lekki1, Lagos State, Nigeria.